Market News
Insurers' Surplus Rebounds in Second Quarter, but Challenges Remain
After declining in the first quarter of the year due to the COVID-19 pandemic, property-casualty insurers' surplus is expected to rebound in the second quarter, according to Kroll Bond Rating Agency (KBRA). KBRA believes the industry can withstand a repeat of the first quarter's market decline and COVID-19 claims. Read More
Using Captive Insurance as Part of a Global Risk Management Strategy
There is a long history of organizations using captive insurance companies to enhance their global risk management strategies. From a risk management and regulatory perspective, proper coordination of a global insurance program is vital for the overall organization. Steven Bauman of AXA XL explains in this new Captive Thought Leader video. Read More
Lloyd's Leaving US Admitted Market To Focus on Reinsurance, E&S
Lloyd's of London will relinquish its admitted market licenses in the United States as part of a plan to strengthen its focus on the US reinsurance and excess and surplus (E&S) markets. Lloyd's will give up its admitted licenses in Illinois, Kentucky, and the US Virgin Islands. Read More
Department of Labor ExPro Benefits Captive Review Option Still Frozen
While the US Department of Labor (DOL) has not yet reinstated a regulatory procedure that enabled employers to obtain a speedy DOL review of their plans to use their captive insurance companies to fund employee benefits, they can, for regular review, use guidance that the DOL released last year. Read More
New Capital Entering Insurance Market May Fuel Start-Up Class of 2020
Market dislocation resulting from the economic impact of the COVID-19 pandemic is creating opportunities for insurers in some lines of business and attracting capital to the industry, according to a new report from A.M. Best. The new capital is raising the possibility of an insurance industry start-up "Class of 2020." Read More